Creative Planning Raises Stock Position in M/I Homes, Inc. $MHO

Creative Planning grew its position in M/I Homes, Inc. (NYSE:MHO) by 227.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,978 shares of the construction company’s stock after buying an additional 6,238 shares during the period. Creative Planning’s holdings in M/I Homes were worth $1,007,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in M/I Homes by 5.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,877 shares of the construction company’s stock worth $771,000 after acquiring an additional 367 shares during the period. Islay Capital Management LLC acquired a new position in shares of M/I Homes in the 2nd quarter valued at $1,064,000. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of M/I Homes by 6.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 6,019 shares of the construction company’s stock worth $675,000 after purchasing an additional 345 shares during the period. PNC Financial Services Group Inc. increased its position in shares of M/I Homes by 10.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,515 shares of the construction company’s stock worth $170,000 after purchasing an additional 146 shares during the last quarter. Finally, Fox Run Management L.L.C. raised its holdings in M/I Homes by 21.5% in the 2nd quarter. Fox Run Management L.L.C. now owns 9,253 shares of the construction company’s stock valued at $1,037,000 after buying an additional 1,638 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

M/I Homes Trading Down 1.4%

Shares of MHO stock opened at $137.59 on Monday. M/I Homes, Inc. has a fifty-two week low of $100.22 and a fifty-two week high of $168.50. The company has a 50 day moving average price of $134.16 and a 200 day moving average price of $128.17. The stock has a market capitalization of $3.60 billion, a P/E ratio of 8.08 and a beta of 1.66. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.52 and a current ratio of 7.17.

M/I Homes (NYSE:MHO) last issued its quarterly earnings results on Wednesday, October 22nd. The construction company reported $3.92 EPS for the quarter, missing the consensus estimate of $4.37 by ($0.45). The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.16 billion. M/I Homes had a net margin of 10.56% and a return on equity of 15.72%. M/I Homes’s revenue was down 1.4% on a year-over-year basis. Equities research analysts predict that M/I Homes, Inc. will post 18.44 EPS for the current fiscal year.

M/I Homes announced that its Board of Directors has authorized a stock buyback program on Wednesday, November 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Zelman & Associates raised shares of M/I Homes from a “neutral” rating to an “outperform” rating in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of M/I Homes in a research report on Wednesday, October 8th. Zacks Research raised M/I Homes from a “strong sell” rating to a “hold” rating in a research report on Friday, September 26th. Finally, Raymond James Financial raised their price target on M/I Homes from $150.00 to $155.00 and gave the stock a “strong-buy” rating in a research report on Friday, October 24th. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, M/I Homes has an average rating of “Buy” and a consensus price target of $155.00.

M/I Homes Profile

M/I Homes, Inc, together with its subsidiaries, engages in the construction and sale of single-family residential homes in Ohio, Indiana, Illinois, Minnesota, Michigan, Florida, Texas, North Carolina, and Tennessee. The company operates through Northern Homebuilding, Southern Homebuilding, and Financial Services segments.